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Consolidated Income Statement (unaudited) - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2020
Mar. 31, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Fee and other revenue          
Asset servicing fees $ 1,173 $ 1,159 $ 1,141 $ 2,332 $ 2,263
Clearing services fees 431 470 410 901 808
Issuer services fees 277 263 291 540 542
Treasury services fees 144 149 140 293 272
Total investment services fees 2,025 2,041 1,982 4,066 3,885
Investment management and performance fees 786 862 833 1,648 1,674
Foreign exchange and other trading revenue 166 319 166 485 336
Financing-related fees 58 59 50 117 101
Distribution and servicing 27 31 31 58 62
Investment and other income 105 11 43 116 78
Total fee revenue 3,167 3,323 3,105 6,490 6,136
Net securities gains 9 9 7 18 8
Total fee and other revenue 3,176 3,332 3,112 6,508 6,144
Operations of consolidated investment management funds          
Investment income (loss) 54 (38) 10 16 36
Interest of investment management fund note holders 0 0 0 0 0
Income (loss) from consolidated investment management funds 54 (38) 10 16 36
Net interest revenue          
Interest revenue 943 1,570 1,965 2,513 3,885
Interest expense 163 756 1,163 919 2,242
Net interest revenue 780 814 802 1,594 1,643
Total revenue 4,010 4,108 3,924 8,118 7,823
Provision for credit losses 143 169 (8) 312 [1] (1) [1]
Noninterest expense          
Staff 1,464 1,482 1,421 2,946 2,945
Software and equipment 345 326 304 671 587
Professional, legal and other purchased services 337 330 337 667 662
Net occupancy 137 135 138 272 275
Sub-custodian and clearing 120 105 115 225 220
Distribution and servicing 85 91 94 176 185
Bank assessment charges 35 35 31 70 62
Business development 20 42 56 62 101
Amortization of intangible assets 26 26 30 52 59
Other 117 140 121 257 250
Total noninterest expense 2,686 2,712 2,647 5,398 5,346
Income          
Income before income taxes 1,181 1,227 1,285 2,408 2,478
Provision for income taxes 216 265 264 481 501
Net income 965 962 1,021 1,927 1,977
Net (income) loss attributable to noncontrolling interests related to consolidated investment management funds (15) 18 (4) 3 (14)
Net income applicable to shareholders of The Bank of New York Mellon Corporation 950 980 1,017 1,930 1,963
Preferred stock dividends (49) (36) (48) (85) (84)
Net income applicable to common shareholders of The Bank of New York Mellon Corporation 901 944 969 1,845 1,879
Net income applicable to common shareholders of The Bank of New York Mellon Corporation used for the earnings per share calculation          
Net income applicable to common shareholders of The Bank of New York Mellon Corporation 901 944 969 1,845 1,879
Less: Earnings allocated to participating securities 1 3 4 4 9
Net income applicable to common shareholders of The Bank of New York Mellon Corporation after required adjustment for the calculation of basic and diluted earnings per common share $ 900 $ 941 $ 965 $ 1,841 $ 1,870
Average common shares and equivalents outstanding of The Bank of New York Mellon Corporation          
Basic (shares) 889,020 894,122 951,281 891,642 956,887
Common stock equivalents (shares) 2,044 3,941 3,891 2,866 4,894
Less: Participating securities (shares) (503) (1,374) (1,244) (905) (1,824)
Diluted (shares) 890,561 896,689 953,928 893,603 959,957
Anti-dilutive securities (shares) [2] 1,578 2,584 3,999 2,052 4,704
Earnings per share applicable to the common shareholders of The Bank of New York Mellon Corporation          
Basic (usd per share) $ 1.01 $ 1.05 $ 1.01 $ 2.06 $ 1.95
Diluted (usd per share) $ 1.01 $ 1.05 $ 1.01 $ 2.06 $ 1.95
[1]
In the first quarter of 2020, we adopted new accounting guidance included in ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments, on a prospective basis. See Note 2 of the Notes to Consolidated Financial Statements for additional information.
[2]
Represents stock options, restricted stock, restricted stock units and participating securities outstanding but not included in the computation of diluted average common shares because their effect would be anti-dilutive.